​​​​​​​​PPS Endowment Plan

The PPS Endowment Plan is a structured savings vehicle, centred on the objective of long-term wealth creation and beneficial to investors with a marginal tax rate above 30%.

It supports disciplined investing by limiting access to capital within the first five years of your investment term. ​​However, you are afforded unlimited flexibility to change your selection of underlying investments or to adjust your contribution amounts, as governed by policy rules. Investors with a marginal tax rate of more than 30% are further presented with a significant tax benefit. As taxes are levied within the PPS Endowment Plan itself, all tax reporting responsibility is removed from you and the proceeds of your investment are tax-free in your hands.

*The minimum recurring debit order amount if you are under the age of 30 is R200 per month, which should be escalated to the normal minimum of R500 per month after your 30th birthday.

​Personalise your investment

Choose your own investment name and reflect the goals your PPS Endowment Plan is helping you work towards (e.g. "My Holiday Fund"). While your product particulars and investment details will remain exactly the same, your chosen name is the one we'll use in all relevant correspondence with you. Please note, however, that your personalised product name has no relation to the performance in the fund.

Transfers

You may not transfer your PPS Endowment Plan to another endowment policy or transfer another endowment policy into the PPS Endowment Plan.

Restriction period

The PPS Endowment Plan has an initial restriction period of five years. You may make additional contributions to your plan at any time, subject to set minimum investment amounts. However, should these contributions exceed 120% of your annual contributions in the prior two-year period, your investment will enter an extended restriction period for another five years from the date of the exceeding contribution.

Switches

You may change your selection of underlying unit trusts as often as you choose without incurring a transaction fee. However, should an asset manager charge an initial upfront fee for investing into its unit trusts, this fee would be applied should you switch to those unit trusts.

Cessions

A PPS Endowment Plan may be ceded outright or partially.

Loans

You may not borrow from your PPS Endowment Plan.

Taxes

Most taxable growth (interest, net rental income and foreign dividends) is taxed at 30% for individuals. Local dividends are taxed and with-held before distributions are reinvested. A default Dividend With-holding Tax (DWT) rate of 20% will apply on local dividends. All taxes due and payable are levied within your PPS Endowment Plan. The proceeds of a withdrawal are therefore taxfree in your hands and all tax reporting responsibility is removed from you.

Withdrawals

You are entitled to one withdrawal during the initial restriction period of five years or any extended restriction period. The withdrawal value is limited to your contributions plus 5% compound interest per year. If the actual market value of the PPS Endowment Plan is less than the legal surrender limit, the market value (less any deductions such as tax) will be paid to you. Withdrawals from your PPS Endowment Plan are not limited once the initial five-year restriction period, as well as any further restriction periods which may have been applied, have expired.

Death benefits

Upon death, the proceeds and ownership of your PPS Endowment Plan will flow directly to your nominated beneficiaries and will be tax-free in their hands. This has the advantage of saving your estate in executor's fees.

Cooling-off

A 31-day cooling-off period applies from the date that you receive your PPS Endowment Plan policy summary and its terms and conditions. Should you choose to terminate your investment within this period, your original investment amount will be returned to you but may be increased/ reduced as a result of market gains/ losses and the consideration of all relevant tax implications. This option will not be available to you if you have made any switches to your investment selection or if any benefit has been paid within the cooling-off period.

Once you have selected your solution, you're then able to structure your solution using the carefully constructed or selected funds we have available to you.

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​PPS Funds

Select the option suitable to you

We build diversified funds across managers and strategies to achieve consistent performance over time. Our experienced investment team manages the asset allocation and manager combination of each solution. You just need to select the appropriate multi-managed fund.

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Other Funds

You select from managers on our platform

You choose the appropriate combination of funds from our pre-approved list to construct the solution you want. Our online functionality allows you to manage your overall asset allocation and change the combination of funds at any time.

Depending on your preference, there are a few ways you are able to invest with us.

​Invest via an adviser

We always recommend seeking the advice of an experienced and qualified financial adviser to help you set financial goals, save sufficiently for these goals and stick to your investment plans. Should wish to find a PPS Investments accredited adviser, leave your details here and someone will contact you shortly.

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Inves​t Now

With the InvestNow functionality, you're able to place new investments, top up existing investments, switch or make withdrawals. And in-app notifications keep you updated on the progress of your transactions. A nifty retirement calculator and access to key documents like tax certificates are added benefits. Click here to use this functionality. ​

Printing and completing an application form

You're also welcome to print the application form and send it to our Validations Team at admin@ppsinvestments.co.za. For any further support, our dedicated client service teams are available between 8:00 and 17:00, Mondays to Fridays at 0860 468 777 or clientservices@ppsinvestments.co.za to assist you with your transaction.

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We at PPS Investments are proud of our unique and unmatched business model of “mutuality” in South Africa. Our financial strength and exceptional growth trends inspire a sense of confidence in PPS Investments.